Bitcoin BTC - Trading Update - Evening Analysis - 06/12/18 - What a Drop!

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What a drop! Bitcoin has plummeted to the $6500 level. The 4 hour chart shows the big drop in the last 12 hours on big volume. The RSI and the MACD are scrapping the bottom on the 4 hour chart. Bitcoin is trying to stay above the $6500 level, and is at levels it has not seen since 4/1/18. Two months is an eternity in the crypto world.

One the one day you have to go back to 2/6/18 to find this level. This looks like a Triple Bottom on a Descending Triangle patter.

We are on the wrong end of the trade with an average price of $6700..

4 hour

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1 day

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(We are not professional traders this is just our opinion. The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.)

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